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Fintech

Paysafe to Acquire viafintech

Paysafe | August 23, 2021

Paysafe, a leading specialized payments platform, today announced that it has signed a definitive agreement to acquire market-leading German fintech company, viafintech, in an all-cash transaction. viafintech, known under the brands of Barzahlen/viacash and viacash, offers the largest, bank independent, payments infrastructure in the DACH region, allowing a popular alternative to the traditional banking structure. For Paysafe, this latest acquisition not only boosts its growth opportunities in Germany, a critical market for its international merchants, it also creates revenue-generating opportunities to cross-sell viafintech’s alternative banking and payments solutions to its merchants around the world.

Paysafe’s core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallets, eCash and open banking solutions. It offers over 70 payment types in over 40 currencies around the world.

viafintech was founded in 2011 and integrates with digital banking apps to offer an innovative “mobile ATM” concept which enables consumers to make deposits or withdraw cash from their digital bank accounts at a nearby retail store using a barcode; something that is becoming increasingly popular in the region as bricks and mortar bank branches close and fast-growing challenger banks and digital wallets disrupt the market. viafintech solutions are also used widely for bill payments and credit payouts, as well as for online shopping in general, supporting millions of consumers in the region who don’t have bank accounts, or who simply prefer the heightened security of using eCash to pay online.

The combination of viafintech’s established banking framework and market leadership in Germany and elsewhere in Europe, together with Paysafe’s diverse payments portfolio and international merchant base, is expected to create compelling growth opportunities for each organisation, both within Europe and beyond.

As part of the deal, the viafintech team, including viafintech’s managing directors, Sebastian Seifert, Achim Bönsch and Andreas Veller, will become part of Paysafe’s expanding eCash and open banking solutions’ team which is headed up by Paysafe eCash CEO, Udo Müller.

This latest acquisition builds on Paysafe’s recent Latin American acquisition agreements with PagoEfectivo and SafetyPay and allows Paysafe to solidify its position as a global market leader for eCash and open banking solutions where multiple payments players are competing to gain a stronger foothold in the emerging open banking ecosystem and the provision of alternative payment methods (APMs). On completion of the three acquisitions, the Paysafe eCash business will be able to offer eCash and open banking solutions in over 60 countries with over one million distribution points.

Following the sale of their shares to Paysafe, viafintech’s majority shareholder - Glory Ltd., a global leader in cash technology solutions - will enter into a new strategic partnership with Paysafe. The two companies have signed a referral agreement that enables Glory to offer paysafecard, one of Paysafe’s leading eCash solutions, as a form of payment within its in-store payments kiosks, and, in turn, for Paysafe to offer Glory’s cash technology solutions to its merchants around the world.

About Paysafe Limited
Paysafe Limited is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of US $92 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world.

About viafintech
viafintech was founded in 2011 and is headquartered in Berlin, Germany. It is led by Achim Bönsch, Sebastian Seifert, Junichi Takemura and Andreas Veller. The company integrates with digital banking apps to offer an innovative “mobile ATM” concept which enables consumers to make deposits, transfers or withdraw cash from their digital bank accounts at a nearby retail store using a barcode. viafintech solutions are also used widely for bill payments and credit payouts, as well as for online shopping in general, supporting millions of consumers in the region who don’t have bank accounts, or who simply prefer the heightened security of using eCash to pay online.

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